One of the biggest challenges that startups have is keeping hold of staff. As a new business, it is hard to match the salary they would be able to command at a larger business, so staff turnover is often high with a new business, which can add to the difficulties of managing a new business. So, what can you do to keep staff at your startup? Of course, it is important that you are offering competitive pay, but there are also a few other strategies that you can use that should help to keep them happy at your business. Read on to find out more.
Offer Flexibility & Autonomy
These days, many people are leaving their jobs and looking for those that offer WFH and flexibility. As a startup, this can be a great way to attract talent to your business as well as keep staff happy. Giving staff flexibility will provide a work-life balance, which is essential for keeping hold of staff and should also help to keep morale high. It is also important to provide autonomy for your staff so that they can find their best way of working and feel trusted.
Create A Positive Work Environment
Work is somewhere that people spend a huge amount of time, so money is not the only important factor. If you can create an environment where people enjoy coming into work each day, work well alongside their colleagues and feel valued, then they are much more likely to stay put. While this is not entirely in your control, there are ways that you can do this, such as making improvements to the office, team building, and social events and allowing open communication at work.
Offer Support To Staff
You often hear of people moving jobs because they did not like their boss. Therefore, it is important to find ways to be a great boss for your team so that they will stay put. This should involve offering support, making sure that you are easy to communicate with, and providing regular positive feedback. You need to find the right balance between being a boss and a friend and nurturing each team member’s relationship.
Professional Development With Learning Technologies
You should also offer professional development opportunities so that people can learn and progress without moving. Again, learning technologies are the best way to do this, and you can use platforms from specialists like thinqi.com that will offer holistic learning experiences tailored to your business’s needs allowing staff to have a personalized professional development path.
Involve Staff In Decision-Making
People will often move on from a business because they do not feel attached to the company or valued. You can avoid this by involving staff in strategic decision-making and helping them to feel like an important part of the company.
Hopefully, this post will give you a few ideas for ways to keep staff happy at your startup and stop you from losing talent to the more established brands.